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rainism
Joined: 13 Apr 2011
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 Posted: Sun Oct 30, 2011 5:29 am Post subject: shockingly blunt article wins KT contest |
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http://www.koreatimes.co.kr/www/news/biz/2011/10/123_97614.html
this girl pulls no punches in this very well written article.
Considering KT's history of rewarding syroupy Korea licking articles, I was rather shocked this was given a Grand Prize.
Like I said.. the girl pulls no punches. Congratulations!
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| Amidst a global environment of deregulation and highly mobile capital, Korea has remained a bastion of protectionism |
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| Foreign investors clearly note their primary grievances: unclear regulations and endless red tape, a lack of transparency among the chaebol, militant labor unions, biased courts, and an illiquid debt market. Beyond these restrictions, Korea also lacks soft culture appeal: Seoul has not been able to achieve the same cosmopolitan attraction as East Asian hotspots like Hong Kong and Singapore. |
 You go girl!
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Deeply instilled xenophobia presents another persistent obstacle that must be reconciled. Seoul will not be a first choice location in a global economy until it can enhance its allure to expatriates and match the level of convenience that other global business hubs provide. |
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cj1976
Joined: 26 Oct 2005
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| Posted: Sun Oct 30, 2011 2:12 pm Post subject: |
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| My cousin in Singapore worked for an international company dealing with clients all around the world, and he said that the Korean and Japanese were the most difficult to deal with because of their clear distrust of 'outsiders', and unwillingness to compromise on issues. |
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ThingsComeAround
Joined: 07 Nov 2008
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| Posted: Sun Oct 30, 2011 4:01 pm Post subject: |
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I believe the editor stopped reading it after the first paragraph  |
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PigeonFart
Joined: 27 Apr 2006
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| Posted: Sun Oct 30, 2011 4:43 pm Post subject: |
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Great quotes there. I like it.
Last year some Russian girl won a korean speaking award for her boring talk on korean food or some other innane **** like that. If i could speak korean, i'd give a very different viewpoint to what the hangooks would be used to hearing.
Well done to that girl for writing that article. |
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some waygug-in
Joined: 25 Jan 2003
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| Posted: Mon Oct 31, 2011 1:17 pm Post subject: |
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Is that her picture?
Hmmm
Actually, I think Korean business leaders are quite proud of their protectionist policies.
Protectionism has served both Japan and Korea quite well, why change a good thing? |
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ThingsComeAround
Joined: 07 Nov 2008
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| Posted: Mon Oct 31, 2011 4:02 pm Post subject: |
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| some waygug-in wrote: |
Protectionism has served both Japan and Korea quite well, why change a good thing? |
... because it is failing them now. |
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some waygug-in
Joined: 25 Jan 2003
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| Posted: Mon Oct 31, 2011 5:00 pm Post subject: |
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Is it really? Looks who is coming to which country looking for jobs.
I never said it was perfect, but I do think the whole globalization thing has been a disaster for the west.
Create jobs? Yes, in China, Taiwan, Korea, India it's created lots of jobs there. |
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morrisonhotel
Joined: 18 Jul 2009
Location: Gyeonggi-do
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| Posted: Mon Oct 31, 2011 5:06 pm Post subject: |
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| some waygug-in wrote: |
Is it really? Looks who is coming to which country looking for jobs.
I never said it was perfect, but I do think the whole globalization thing has been a disaster for the west.
Create jobs? Yes, in China, Taiwan, Korea, India it's created lots of jobs there. |
Pray tell, how has the Japanese economy been doing over the past 10 - 15 years? |
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some waygug-in
Joined: 25 Jan 2003
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| Posted: Mon Oct 31, 2011 5:15 pm Post subject: |
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| Better than the West's, until the last earthquake that is. |
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morrisonhotel
Joined: 18 Jul 2009
Location: Gyeonggi-do
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| Posted: Mon Oct 31, 2011 5:16 pm Post subject: |
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| some waygug-in wrote: |
| Better than the West's, until the last earthquake that is. |
Any statistics and analysis to back that up or is that just your opinion? |
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some waygug-in
Joined: 25 Jan 2003
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| Posted: Mon Oct 31, 2011 5:20 pm Post subject: |
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| Just my opinion. Mine and a lot of other people seeking work in China, Korea, Taiwan etc. |
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RangerMcGreggor
Joined: 12 Jan 2011
Location: Somewhere in Korea
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| Posted: Mon Oct 31, 2011 5:58 pm Post subject: |
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| some waygug-in wrote: |
| Better than the West's, until the last earthquake that is. |
There is a reason why the 90s were called the "lost decade" in Japan. |
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Draz
Joined: 27 Jun 2007
Location: Land of Morning Clam
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| Posted: Mon Oct 31, 2011 6:42 pm Post subject: |
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| ThingsComeAround wrote: |
| I believe the editor stopped reading it after the first paragraph |
That's about what I was going to say. He was overwhelmed by all those big words. May have worked through the first bit, but simply skimmed the rest with a glazed-over look. |
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The King of Kwangju
Joined: 10 Feb 2003
Location: New York City
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UknowsI
Joined: 16 Apr 2009
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| Posted: Mon Oct 31, 2011 8:24 pm Post subject: |
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| ThingsComeAround wrote: |
| some waygug-in wrote: |
Protectionism has served both Japan and Korea quite well, why change a good thing? |
... because it is failing them now. |
I think it's possible for Korea to continue with protectionism and still be successful. Foreign investors are not really that important for a country which is making a lot of money. If Korea finance their own developments they will also be able to claim a larger part of the profits. However, I think a lot of the problems which are stopping foreign investors are also bad for Korean businesses and Korean investors. The points mentioned in the OP, unclear regulations and endless red tape, a lack of transparency among the chaebol, militant labor unions and biased courts, are not only bad for foreign investors but can also be devastating for small business owners and investors in Korea. Chaebols and biased regulations and rulings are big obstacles for Koreas economical future, lack of foreign investors much less so. |
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